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Category: Government and Politics / Federal Government / Industry / Business, Economics and Finance / Superannuation

Super funds call for 'menu' of potential infrastructure projects

Saturday, 29 Oct 2016 05:46:09 | Dan Conifer

Australia currently has a $2 trillion pool of super savings. (Alan Porritt: AAP)

Australia needs a clear list of national infrastructure priorities to help unlock billions of dollars in investment, an industry superannuation fund says.

Industry Super Australia said its members wanted to invest more on roads, ports and airports and were keen to build stronger relationships with the Commonwealth, states and territories.

But it said governments needed to better identify key projects and the potential profits they could generate.

"There isn't a league table of high-value projects with financial returns that are clearly evident, that enable us to pick from a menu of potential projects," Industry Super Australia chief economist Stephen Anthony said.

"I want a clear summary of where value is greatest in a cost benefit sense. I want a clear summary, a clear table of national priorities, say the top 20 projects with the greatest rates of return, and I want a recommendation as to how they should be funded.

"And I want government advice as to how they intend to proceed with the projects, what funding arrangement they intend to put in place … and potentially what timetable they want to roll it out over."

Australia currently has a $2 trillion pool of super savings.

Mr Anthony, a former Treasury official, said industry funds — such as Australian Super and Hostplus — held more than $40 billion in unlisted infrastructure and property.

He said funds ploughed nearly $3 billion into such assets last year and were "looking to invest further where they see opportunities to increase member returns".

"We all have to try a bit harder to find a way to raise returns and growth in economies," he said, with funds and governments partnering to "share risks to build the future economy".

The NSW Government earlier this month leased electricity network AusGrid to Australian Super and IFM investors after an unsolicited proposal from the firms.

Mr Anthony said it was "a no-brainer" for super funds to launch more unsolicited bids.

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